Infringement of Copyrights, Trademarks, and Trade Secrets

Marcum's Valuation & Litigation Support Services group is often engaged as damages and financial experts by counsel for both plaintiffs and defendants in intellectual property ("IP") disputes.

Innovation provides opportunities for societal change, as well as economic growth for the company or individual by whom it
is developed. The economic value of the intellectual property developed by a company can be guarded by a variety of protections,
including copyrights, trademarks, and trade secrets.

When an infringement of intellectual property rights is alleged to have occurred, the aggrieved party will often claim damages
from the unauthorized use of their intellectual property. The damages claimed can take many forms, including claims for
lost profits and unjust enrichment.

We are also often engaged by counsel and business owners to appraise intellectual property in connection with transactional
and other non-litigation matters.

In connection with disputes, we have, among other tasks, been instructed to determine lost profits of the plaintiff, actual
profits of the alleged infringer subject to disgorgement, the diminution in value of intellectual property resulting from
the alleged wrongdoing of the defendant, and to critique opposing intellectual property expert reports.

Contact one of Marcum's regional representatives.

Intellectual Property Dispute Related Engagements

Our recent dispute-related engagements include:

Patents

Determining the correct royalty payments due to an inventor holding a patent on a pharmaceutical methodology, in
connection with a matter alleging delayed and inaccurately calculated payments from the "generic" manufacturer.

Analyzed financial records of multiple businesses alleged to have infringed upon a patent for a hanger used to
display intimate apparel and determined the resulting damages.

Determining a reasonable royalty rate in connection with a patent infringement matter and utilizing Idea® software
to evaluate the alleged infringing sales subject to the rate.

Based on 17 years of information, evaluated the alleged royalty rate determined by the opposing expert used to
calculate damages in connection with the alleged infringement of a patent for metal box-corners.

Copyrights

Establishing causation and determining damages suffered by an owner of a copyrighted, proprietary online listing
database by utilizing software fingerprints and analyzing membership erosion and lost profits.

Valuing the music catalog of a fairly prominent music artist, which was used to settle equitable distribution in
a divorce proceeding.

Trademarks

Determining monetary relief in a trademark dispute related to billions of dollars of alleged infringing sales by
an electronics manufacturer.

Determined that an opposing expert's usage of a royalty rate in determining alleged trademark damages was an error,
due to the opposing expert's failure to accurately account for the related licensing agreement provision.

Critiquing an opposing experts report in connection with a dispute related to a trademark used in manufacturing
apparel.

Determining monetary relief in a trademark dispute related to billions of dollars of alleged infringing sales by
an electronics manufacturer.

Trade Secrets

Determining damages related to a theft of technological trade secrets, including an analysis of 20 years of the
IP's historical development costs and its obsolescence relative to new technology.

Determining damages suffered by an inventor of a gold based investment product resulting from a company's alleged
theft and infringing imitation of the IP's underlying technological "know-how" In connection with non-litigation
matters we have been engaged to determine the value of trademarks, copyrights, and patents as standalone assets
and as key components of an overall business value of an enterprise in connection with a merger, acquisition,
licensing agreement, financing, and for tax purposes.

Intellectual Property Dispute Related Engagements

Our recent non-litigation IP engagements include:

Strategic Consulting – Our client, a national microbrewery, was presented with the
opportunity to sell its business or license the rights to use its brands to one of the largest beer manufacturers
in the world. However, management did not know which would be better for the company. We valued the alternatives
(license versus sale) to give management the ability to make an informed decision.

Determining Royalty Rates – In a case relating to prescription cards, we determined
"arms-length" royalty rates for certain IP held by a special purpose company to be charged to its affiliates.

Sale of a Trademark – Our client was approached by an international clothing designer
to acquire one of its trademarks, but he had no idea what the price should be. We valued the trademark under various
investment value scenarios, which gave him the information he needed to set his asking price.

SEC Compliance – Our client acquired the assets of a niche software company that
developed specific software used in the pharmaceutical industry. The client needed to value the separable intangible
assets acquired as part of the transaction to be in compliance with generally accepted accounting principles, in
specific Financial Accounting Statement 141. The client's most significant intangible asset was its developed software,
which was developed in-house over a period of 30 years. We successfully valued the software based upon careful
analysis of the company's historical performance and projections for the software, which was found acceptable by
the client's auditors.

Raffa - Marcum's Nonprofit & Social Sector Group's strength and competitive edge lies in the fact that we provide expertise and superior service across a variety of essential interrelated financial, technology and consulting competencies.

President Donald Trump pledged that his tax law would kill off breaks and complex loopholes for the wealthy. Instead, the overhaul has ushered in a new generation of maneuvers that taxpayers can exploit before Dec. 31 to minimize next year's bills.

The TCJA, signed into law in December 2017, provided sweeping changes affecting almost all businesses and individual taxpayers. One such change related to limitations on businesses deducting transportation fringe benefits related to employee transportation unless the employee recognizes income related to the fringe.

Marcum LLP is one of the largest independent public accounting and advisory services firms in the nation, with offices in major
business markets throughout the U.S., as well as Grand Cayman, China and Ireland.